Filing Flows › SES AI (SES) › Q1 2026
SES AI (SES) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 24, 2026
SES AI (SES) reported revenue of $6.7M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +47% from the quarter before. Operating margin was -266.3%, net loss $12.1M (180.3% of revenue).
SES AI, Q1 2026: revenue $6.7M (+16% year over year), operating margin -266.3%, net loss $12.1M, operating cash flow −$19.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7M | +47% | +16% |
| Operating profit | −$17.9M | — | — |
| Net earnings | −$12.1M | — | — |
| Operating cash flow | −$19.8M | — | — |
What changed
Revenue was $6.7M in Q1 2026, up 16% year over year and up 47% from the previous quarter. Product was the largest line at 96% of revenue. Product added $6.4M year over year (up 80462%), 701% of the total change. Service declined 95%.
Gross margin was 18.1%, down 60.6 points from Q1 2025. Operating costs exceeded revenue by $17.9M, an operating margin of -266.3%. Operating expenses fell 31% while revenue rose 16%. The fastest-growing cost line was General & admin (+10%). The quarter ended with a net loss of $12.1M, narrower than the previous quarter's $17.0M loss. Non-operating items added $6.2M, -53% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$19.8M. Non-cash charges added back $2.7M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $12.5M. Capital expenditures of $330K exceeded it, leaving free cash flow of −$20.1M.
Questions
What was SES AI's revenue in the first quarter 2026?
SES AI (SES) reported revenue of $6.7M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +47% from the quarter before.
Was SES AI profitable in the first quarter 2026?
Operating loss was $17.9M (-266.3% of revenue) and net loss $12.1M.
Source: SES AI 10-Q on SEC EDGAR.